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had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still larger than the average euro zone countries is i think we've been part of the euro zone we would have been a worse position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i. probably should have stopped. have we been unable to export our way out of trouble i think is partly because of the depressed state of the world economy you know we sell a lot to america and america's growing but at a pretty low rate look at the euro zone where half of what we produce goes the eurozone is in recession and you know that ok the germans are doing a little bit better than that but it's not surprising you know if you've got this sort of don't term that you don't automatically get the benefit you would expect but you know there's been a lot of discussion in britain by rebalancing the economy you know that's fine but it's very difficult to do it when that economy is in recession what do you make of the current debate about changing ou
had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still larger than the average euro zone countries is i think we've been part of the euro zone we would have been a worse position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i. probably should have stopped. have we been unable to export our way out of trouble i think is partly because of the depressed state of the world...
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. why was walmart producing it? i think it was a symbolic gest
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do...
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for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver across j.p. morgan so the indian folks are buying gold to crash the bank stores in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and financial terrorism then it's up to everyone in the world and the indians are leading the global charge on this i commend you india continue to build your gold hoard kill the banks turns off yeah and finally you know on this one of the reasons why they give for why they store twenty five thousand tons of gold is because there's the government doesn't take care of them there's no social security system but here we have a false illusion that the government is somehow going to take care of us even though all the evidence is there that they only take care
for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver across j.p. morgan so the indian folks are buying gold to crash the bank stores in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and...
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the -- deficit reduction deal. the troops will protect the french people and not the government. >> the son of pakistan's booto -- bhutto launched his major career marking five years since his mother's assassination. >> neighbors chad has already deployed troops in after ca. their presence is detering the rebels from advancing in the capital. >> there are those the coalition called a select coalition of armed groups coming from the northern part of the country. they have been there for quite sometime. they signed a peace contract and another last year. so those combatants have been in the northern part of the country. but just recently they launched that offensive because they managed to unite. this is the agreement according to the rebels were not implemented. they were supposed to get money and also to benefit from reinsertion programs. and apparently, it did not materialize. that's why they kept their weapons and and stayed in the territory. it controls 1/3 of the territory right now. it moves from the northern
the -- deficit reduction deal. the troops will protect the french people and not the government. >> the son of pakistan's booto -- bhutto launched his major career marking five years since his mother's assassination. >> neighbors chad has already deployed troops in after ca. their presence is detering the rebels from advancing in the capital. >> there are those the coalition called a select coalition of armed groups coming from the northern part of the country. they have been...
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the 75% tax rate was part of the socialist government's platform for bringing down the budget deficit. he came to power in may promising to levy the tax on those earning more than a million euros per year, $1.3 million. the tax would affect about 1500 high earners. the constitutional council which oversees all legislation it said the new law was not fair because it applies to individuals and not households. the french prime minister said the government would introduce a new version of the law. >> we will implement measures to respect the commitment of the president of the republic. it will take into account the rejection of the constitutional council and apply the 2013 incomes and will have to be voted. >>> in macedonia, thousands of protesters gathered outside of the headquarters of the right wing ruling party, demanded the prime minister's resignation. the rally is a combination of days of protests that began last week when the opposition was ejected from parliament after a disagreement over next year's budget. we have this report from the capital. >> a march against the government
the 75% tax rate was part of the socialist government's platform for bringing down the budget deficit. he came to power in may promising to levy the tax on those earning more than a million euros per year, $1.3 million. the tax would affect about 1500 high earners. the constitutional council which oversees all legislation it said the new law was not fair because it applies to individuals and not households. the french prime minister said the government would introduce a new version of the law....
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and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea that volcker had was a we will swap this. we will just turn it on its head. we will e
and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall...
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finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated -- encapsulated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. wh
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were...
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we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea t
we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long...
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the budget deficit the fiscal crisis to the extent that it exists although granted a lot of corporations are sitting on their capital they're not investing in r. and b. so one necessity for supporting manufacturing is to have things like democratic firms and cooperatives and alternative banks that we move our money and so we need a synergy between people moving their money into these production platforms to get the high paid jobs that we need all right jonathan feldman we are out of time thanks so much for being on the kaiser report. thank you for having me it was a pleasure all right now going to do it for this edition of the kaiser report with me max kaiser and stacey however my guest jonathan feldman if you had to send me an e-mail please do so at kaiser reported r t t v dot are you like some ask them but you know. he is easy. it's easy. to meet. folks. you know sometimes you see a story and it seems so for langley you think you understand it and then you glimpse something else you hear or see some other part of it and realized everything you thought you knew you don't know i'm tom ha
the budget deficit the fiscal crisis to the extent that it exists although granted a lot of corporations are sitting on their capital they're not investing in r. and b. so one necessity for supporting manufacturing is to have things like democratic firms and cooperatives and alternative banks that we move our money and so we need a synergy between people moving their money into these production platforms to get the high paid jobs that we need all right jonathan feldman we are out of time thanks...
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almost every day at the top of the list is deficit. get the deficit under control. until we did it in the 1990's. and why did i have a single- minded focus? i've always understood the most important responsibility of government is the economic security of people. if you do not have your fiscal affairs in order, we learned in the economic downturns in my state that debt can work for you. it can also crush you. i have seen people crashed by -- crushed by debt. my family lived through the great depression in the 1930's and it exacted a terrible toll on the people of my state. i have always been focused on economic growth, economic opportunity, and irresponsible with the resources at hand. -- >> the c.s. becoming like greece? >> no, that is a profoundly -- do you see as becoming like greece? >> that is a profoundly different situation. the congressional budget office says that if we stay on the course we are on, we will have a debt that is 230% of our gross domestic product of the the next 20 years. most experts say once you get a debt of more than 9% of gross domestic
almost every day at the top of the list is deficit. get the deficit under control. until we did it in the 1990's. and why did i have a single- minded focus? i've always understood the most important responsibility of government is the economic security of people. if you do not have your fiscal affairs in order, we learned in the economic downturns in my state that debt can work for you. it can also crush you. i have seen people crashed by -- crushed by debt. my family lived through the great...
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optimistic, paris has set a growth target of 0.8% for 2013 and says it is still confident it can cut its deficit to below the you-mandated level. a german power utility is cutting 1300 jobs as part of a 750 million euro cost-cutting program. >> it is germany's third biggest power company. most of the job losses will be among support and administrative staff. the company has struggled financially from having to shut down to below of its nuclear reactors over safety fears in the wake of the fukushima disaster. >> ratings agency standard and poor's has downgraded cypress again. its sovereign debt already has junk status. now it has gone down two more notches. >> cypress says it needs a decision on an international bailout within days to avoid a default. international monetary fund says talks are unlikely to be concluded this year. it needs the bailout to save its banks, which are heavily exposed to greet debt. well, germans are losing their appetite for spending money. consumer confidence has fallen for the second month in a row according to market research group gfk. >> they polled 2000 german sho
optimistic, paris has set a growth target of 0.8% for 2013 and says it is still confident it can cut its deficit to below the you-mandated level. a german power utility is cutting 1300 jobs as part of a 750 million euro cost-cutting program. >> it is germany's third biggest power company. most of the job losses will be among support and administrative staff. the company has struggled financially from having to shut down to below of its nuclear reactors over safety fears in the wake of the...
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had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still knowledge and then the average here is a country that is i think we've been part of the euro zone we would have been in the worst position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i have to say is the person that had to take a decision as to whether or we should stop the banking system collapse i could take that decision consulting with the prime minister and we did it overnight if we did bob you reserve my guess is going on i would still be asking the question and discussing it no i don't i i just despair of the score off it decision making in the euro zone or inability in greece for example after two years to come to something that looks like it's credible it's going to stick and we have had our in currency for and we've seen a thirty percent depreciation in standing over. reason is why then have we been unable to export our way out of trouble i think is partly because of the depressed state of the world ec
had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still knowledge and then the average here is a country that is i think we've been part of the euro zone we would have been in the worst position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i have to say is the person that had to take a decision as to whether or we should stop the banking system collapse i could take...
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produced no results if the republicans and democrats fail to reach a deal on how to reduce the national deficit tax hikes and spending cuts worth billions of dollars automatically take effect on journey the first another round of talks is show deal for saturday barack obama is already considering an emergency bill from the werner's and unemployed if agreement is not reached before the deadline. the six men involved in the gang rape of a student in india have been charged with murder just hours after their victim died in hospital if convicted all could face the death penalty because sparked protests in new delhi with the authorities resorting to banning mass gatherings in parts of the city people still joining to express their anger while demanding extreme measures to keep the streets safe. the fans the newly elected prime minister has taken a tour of the fukushima nuclear plant which was devastated by a massive tsunami last year during a protective suit action is or are being inspected the complex admitted that dealing with the fallout is an unprecedented challenge the previous democrat led gov
produced no results if the republicans and democrats fail to reach a deal on how to reduce the national deficit tax hikes and spending cuts worth billions of dollars automatically take effect on journey the first another round of talks is show deal for saturday barack obama is already considering an emergency bill from the werner's and unemployed if agreement is not reached before the deadline. the six men involved in the gang rape of a student in india have been charged with murder just hours...
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is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several times before. it was really a similar debate to what we had in 2008. we had the same debate in 2010. we had a similar debate in 2011 when we were dealing with the debt ceiling issue the first time around. and we dealt it with it in the last election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in o
is in the white house, deficits don't matter. can you tell us a little bit about the philosophies of the two candidates? well now, the president and the ex-candidate. will the situation be that much different if there was a different man in the white house? guest: well, look, it's an interesting question. it is certainly true that tax policy was one of the key sort of issues in the last election. and actually, the debate that we're having if it sounds familiar, it's because we've had it several...
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they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held the growth flat. then we cut it by almost 5%. this time around, we let it grow a little bit higher. protect the dome so it did not fall in.
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would...
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now, the imf has suggested france should give itself more leeway to meet deficit targets. the fund's mission chief, edward gardener, said the country's target of 3% gdp was less pressing than cutting excess from public finances. the imf warned against more tax hikes, warning these could further restrict french economic growth. >>> and speaking exclusively to nbc, the ceo of alcatel-lucent says he expects french companies to continue to battle head winds. >> we will improve on structural inners, for sure. if you take a european approach, you certainly will see some of the benefits of the structural improvement that we made. but if you look two feet on the ground, i think 20 is 13 will not be substantially better than 2012. >> what about your business? >> i think what you saw in 2012 was that the u.s. market was very strong. europe was weak. china was very weak. and i think that if you look to 2013, the u.s. will stay strong. i think europe will stay where it was in 2012 and i think that in china, we'll see. >> how are you dealing with the competition from asian telecom equi
now, the imf has suggested france should give itself more leeway to meet deficit targets. the fund's mission chief, edward gardener, said the country's target of 3% gdp was less pressing than cutting excess from public finances. the imf warned against more tax hikes, warning these could further restrict french economic growth. >>> and speaking exclusively to nbc, the ceo of alcatel-lucent says he expects french companies to continue to battle head winds. >> we will improve on...
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. >> kelly: one final question, if i may, what kind of deficit reduction would this tax be able to provide for the people of france, if you incur 75% tax because you just happen to be a multi-millionaire? >> the thing about france is we're not the united states. we don't have that many multi-millionaires. it was actually really only going to affect 1500 people across the country. so it wasn't going to be very much. it was probably, if you're lucky, at best, $1 million. >> kelly: katherine field, thank you so much for joining us via phone and telling us about the deal in france. thank you. >> heather: back at home, hundreds of firefighters from across the u.s. and canada heading to western new york for second day for the wake and funeral services for these two fallen heros. the two volunteer firefighters were killed in a christmas eve ambush when they responded to a house fire and they were gunned down by 62-year-old william spangler. police also arresting 24-year-old dawn nguyen for illegally purchasing the gun that spangler used in that rampage. now the community of webster is stepping up
. >> kelly: one final question, if i may, what kind of deficit reduction would this tax be able to provide for the people of france, if you incur 75% tax because you just happen to be a multi-millionaire? >> the thing about france is we're not the united states. we don't have that many multi-millionaires. it was actually really only going to affect 1500 people across the country. so it wasn't going to be very much. it was probably, if you're lucky, at best, $1 million. >>...
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they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held the growth flat. then we cut it by almost 5%. this time around, we let it grow a little bit higher. protect the dome so it did not fall in.
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would...
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anyone who travels around this country knows we have a public goods deficit. it's something we'd love to see more in helping to boost the underlying productivity of the economy. and implementation. this doesn't get enough discussion. the affordable care act and dodd-frank first term agenda items are not yet implemented and there's going to be a lot of that in term two. other than that i see probably tax and entitlement reform. and don't forget guns. guns are -- >> tax and entitlement reform. when does that happen. how does it happen? we're assuming a baby deal, so i assume that that doesn't happen in that context. are you talking about a grand bargain? >> right. i am. and i'm saying that these guys actually got pretty far towards some kind of a bargain that involved cutting some entitlement growth, restructuring the tax code in ways that i think are pretty good. >> when would this happen in your perfect world? >> i think this would start to happen, not too long after we resolve the cliff. so, probably late february, march it would begin. but it's going to take
anyone who travels around this country knows we have a public goods deficit. it's something we'd love to see more in helping to boost the underlying productivity of the economy. and implementation. this doesn't get enough discussion. the affordable care act and dodd-frank first term agenda items are not yet implemented and there's going to be a lot of that in term two. other than that i see probably tax and entitlement reform. and don't forget guns. guns are -- >> tax and entitlement...
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it should not be done as part of a deficit reduction. it should be done to secure the solvency of social security. healthcare little different circumstance because that is the 800 pound gorilla. if you look at growth as a share of g.d.p., the healthcare accounts interest on the debt, that's where it's at. it's not in the discretionary accounts or social security. the place we are having very significant growth of a share of g.d.p. is in the healthcare accounts. and as i indicated as a nation we are spending so much more than anybody else and the other countries that are advanced are actually with less expenditures a share of their national income are getting better healthcare out comes. so there say chance for savings -- so there is a chance ofor savings without hurting beneficiaries and with actually improving the competitive position of our economy. >> richard man will give the mike to the individuals and identify youself and what your question is. >> i'm a reporter with lrp publications. in the chart that talked about the $1 trillion
it should not be done as part of a deficit reduction. it should be done to secure the solvency of social security. healthcare little different circumstance because that is the 800 pound gorilla. if you look at growth as a share of g.d.p., the healthcare accounts interest on the debt, that's where it's at. it's not in the discretionary accounts or social security. the place we are having very significant growth of a share of g.d.p. is in the healthcare accounts. and as i indicated as a nation we...
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and that would still leave an $800 billion deficit. we can not tax away the deficit. gregg: sure we can. we can do the value-added tax. >> well, and that's what worries me. if we don't cut spending, spending right now, the federal government is the largest it has ever been as a share of our economy. it takes up more of our economy than ever, the only way to pay for it is to put in a european-style value-added tax. which means every american, everyone, the lower income, the middle income, the high income, would pay, say 20% on every item they purchase, every item, to the federal government. that is what the europeans do to afford these big governments. gregg: what would it do? >> say that again? gregg: what would it do? >> that, that what would happen is, we were turn into europe. we all see it. we see greece, and spain and italy, and france. they all grow slow of the they have extremely high unemployment rates. we would have a slow economy and high unemployment forever if we taxed ourselves like that. gregg: all right. >> this idea that somehow you can't tax the middl
and that would still leave an $800 billion deficit. we can not tax away the deficit. gregg: sure we can. we can do the value-added tax. >> well, and that's what worries me. if we don't cut spending, spending right now, the federal government is the largest it has ever been as a share of our economy. it takes up more of our economy than ever, the only way to pay for it is to put in a european-style value-added tax. which means every american, everyone, the lower income, the middle income,...
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the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the other hand, you have unit labor costs which have been diminishing quite a lot and the exports of spain are very dynamic today. so it also demonstrates that hard work is being done. it's difficult. it's tough, but going in the right direction. i trust that the global observers are observing progressively and the adjustment is proceed. in spain and in all the countries that are under adjustment. >> now, lonmin's ceo ian farmer is stepping down while being treated for a serious illness after being first admitted to hospital back in august. the south african miner says it's already appointed an executiv
the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the...
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Dec 30, 2012
12/12
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back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequester. the republicans in the house of representatives, they feel they were elected in 2010 to come here and cut spending. dealing with the tax increases, that's a smaller piece. and that seems to be the focus of these talks right now. getting everybody's hands wrapped around the spending component which again the super committee was supposed to take care of last year, they failed. the budget control act, other provisions, all of these things have failed because nobody wants to give. and that's why it is going to be tough to get this through the house of representatives because these republicans are locked in. they say, look, we have cut some spending here this past year. but it was not cut enough. it was not cut deeply enough. they say hold on, we have already cut. that's the longer heads. getting this through the house will be an uphill climb. >> and statistically, when you look at the surveys americans are dug in
back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequester. the republicans in the house of representatives, they feel they were elected in 2010 to come here and cut spending. dealing with the tax increases, that's a smaller piece. and that seems to be the focus of these talks right now. getting everybody's hands wrapped around the spending component which again the...
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Dec 28, 2012
12/12
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FBC
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deficit and looming debt that we have been concerned about from the beginning that it would take for republicans to vote for then what the democrats are asking for which is some kind of tax increase on some high income level people and the extension of the unemployment insurance. we all want to do amt relief. we all want to do something that will help in cap gains and evidence. i think there are places where we are together and there are the fringes where we have to negotiate. dagen: are they giving a free pass because they are out there buying treasury debt? eventually, allowing you to not do anything. it is standing and ready and buying. >> i disagreed with what this ad is doing. it is one of those numbers things that we never really know what is really happening. we need to deal with overspending and too much debt in this country. that is where we are having the tension between the two parties. dagen: senator hutchinson, it was great to talk with you. thank you. some good news for you homeowners out there. we have had good news all week. we have home prices going up year over year
deficit and looming debt that we have been concerned about from the beginning that it would take for republicans to vote for then what the democrats are asking for which is some kind of tax increase on some high income level people and the extension of the unemployment insurance. we all want to do amt relief. we all want to do something that will help in cap gains and evidence. i think there are places where we are together and there are the fringes where we have to negotiate. dagen: are they...
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Dec 30, 2012
12/12
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back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequester. the republicans in the house of representatives, they feel they were elected in 2010 to come here and cut spending. dealing with the tax increases, that's a smaller piece. and that seems to be the focus of these talks right now. getting everybody's hands wrapped around the spending component which again the super committee was supposed to take care of last year, they failed. the budget control act, other provisions, all of these things have failed because nobody wants to give. and that's why it is going to be tough to get this through the house of representatives because these republicans are locked in. they say, look, we have cut some spending here this past year. but it was not cut enough. it was not cut deeply enough. they say hold on, we have already cut. that's the longer heads. getting this through the house will be an uphill climb. >> and statistically, when you look at the surveys americans are dug in
back to the 1980s when the deficits have started to explode, there have been four or five pieces of legislation over the past 30 years dating back to hollings that was the first sequester. the republicans in the house of representatives, they feel they were elected in 2010 to come here and cut spending. dealing with the tax increases, that's a smaller piece. and that seems to be the focus of these talks right now. getting everybody's hands wrapped around the spending component which again the...
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Dec 28, 2012
12/12
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CNBC
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that's an 8% budget deficit to gdp. we're in the same realm as spain. we're not -- we do not have good optics here. i think it's going to get worse before it gets better. >> craig, you know, i understand that we need a real good kick in the pants, in the fiscal pants if you like, right, to get this house in order. at the same time, if we go over that cliff, this is real money to real people. this is money being taken out of people's paychecks. this is some people losing their unemployment benefits. all kinds of things could happen. how bad could it be? >> well, it certainly could be bad. just as an example of that, if you look at the payroll tax cut alo alone, that doesn't seem to be on the board. that could be an increase in the gasoline tax of $1.25 a gallon. there will be effects, but that has to happen at some point. we've been living on sugar high for too long now. at some point we have to get back to fiscal discipline. there's going to be some pain involved. >> craig, politicians don't get re-elected by not giving out candy. they get elected by gi
that's an 8% budget deficit to gdp. we're in the same realm as spain. we're not -- we do not have good optics here. i think it's going to get worse before it gets better. >> craig, you know, i understand that we need a real good kick in the pants, in the fiscal pants if you like, right, to get this house in order. at the same time, if we go over that cliff, this is real money to real people. this is money being taken out of people's paychecks. this is some people losing their unemployment...
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Dec 29, 2012
12/12
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it was a measure president francois hollande would help cut the deficit budget. the court took issue with not with the tax, but taxing household equally. and for the latest headlines log onto foxnews.com. you're watching the most powerful name in news, fox news channel. >> paul: welcome back to this special he edition, journal he had t.editorial report. and this year continued high unemployment and slow economic growth. what can we expect in 2013? we're back with dan henninger, mary anastasia o'grady and dan moore. mary explain the slow growth and the markets. >> if respect to the markets, i would say if you look at a chart for, for example, the s&p 500, you go back to april of 2011 to october of 2012. you're basically flat. there's a lot of churning up and down, but in the last months a pickup there and certainly, from the end of -- from the beginning of this year we saw a run on the market, but you don't have a great return if you're a long-term investor. >> paul: right, so, okay, if growth is still slow, okay, why are-- and some people are still investing in c
it was a measure president francois hollande would help cut the deficit budget. the court took issue with not with the tax, but taxing household equally. and for the latest headlines log onto foxnews.com. you're watching the most powerful name in news, fox news channel. >> paul: welcome back to this special he edition, journal he had t.editorial report. and this year continued high unemployment and slow economic growth. what can we expect in 2013? we're back with dan henninger, mary...
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Dec 27, 2012
12/12
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a plan that would simplify the tax code, shrink the deficit, protect the taxpayers, and grow the economy. but democrats consistently rejected those offers. the president chose, instead, to spend his time on the campaign trail. this was even after he got re-elected. and congressional democrats sat on their hands. now, republicans have bent over backwards. we stepped way, way out of our comfort zone. we wanted an agreement. but we had no takers. the phone never rang and so now here we are five days from the new year and we might finally start talking. democrats have had an entire year to put forward a balanced bipartisan proposal. and if they had something to fit the bill, i'm sure the majority leader would have been able to deliver the votes the president would have needed to pass it here in the senate. and weapon wouldn't be in this
a plan that would simplify the tax code, shrink the deficit, protect the taxpayers, and grow the economy. but democrats consistently rejected those offers. the president chose, instead, to spend his time on the campaign trail. this was even after he got re-elected. and congressional democrats sat on their hands. now, republicans have bent over backwards. we stepped way, way out of our comfort zone. we wanted an agreement. but we had no takers. the phone never rang and so now here we are five...
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Dec 28, 2012
12/12
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MSNBCW
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what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what they do best. mike, before we let you go, ed mackey malden running for the united states senate in massachusetts. >> he's never run statewide. do you agree with this? i think scott brown is smiling this morning? i think a race against ed markey well-known in washington, respected here and has taken strong positions on climate change and other issues. he's not a household name in massachusetts. scott brown is. there's a totally different electorate in this special election. scott brown likes this match upup. mike, would you call hi
what do you do about deficits? the truth is doing nothing at this point is the best impact they can have on deficits, because taxes will go up, spending will go down. that's the point of this deal. so to come to your point, yeah, i guess they could suddenly hug each other and do had this dance, but the reality is there are a lot of people who think, what we are dealing with is deficits because the budget looks better and we'll deal with the economy some other way. >> doing nothing is what...
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Dec 27, 2012
12/12
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i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to get this settled before we do go off the fiscal cliff because i think a lot of people are really stressed out. >>> think that message "come together" is exactly what needs to happen. i'm frustrated by six, 10 people who think they can hold out to get their last little pork or thing into the bill, that seems unfortunate. >> of course, in the age of social media, in particular, no message of any kind goes untweeted. we did hear from house speaker john boehner's spokesman, brendan buck, who tweeted quote my capitol hill location did not have an inspirational message. i feel so lost. and so it goes.
i think the words "come together" means something deficit to all of us. in the spirit of the holidays, in an effort to bring all our political leaders, i think "come together" means a lot. >> now, this come together message will go not only on coffee cups in the area but across old and new media. when we sat down and talked to customers here, it really really resonates with what customers want to see done. >> they do need to come together and i think they need to...
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Dec 29, 2012
12/12
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CSPAN
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unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern over and over again. ordinary folks -- they do their jobs. they meet deadlines. they sit down and they discuss things and then things happen. if there are disagreements, they sort through the disagreements. the notion that our elected leadership cannot do the same thing is mind-boggling to them. it needs to stop. i am modestly optimistic that an agreement can be achieved. nobody will get 100% of what they want. let us make sure that middle- class families and the american economy and the world economy are not adversely impacted because people cannot do their jobs. thank you very much, everybody. >> now s
unemployment insurance is available for 2 million people, and it lays the groundwork for additional deficit reduction and economic growth steps that we can take in the new year. let us not miss this deadline. that is the bare minimum we should be able to get done. it should not be hard since democrats and republicans say they do not want to see taxes go up on middle-class families. i have to repeat -- outside of washington, nobody understands how it is that this seems to be a repeat pattern...
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Dec 30, 2012
12/12
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FOXNEWSW
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and kicked the can down the road and only talking about taxes which will do nothing to decrease the deficit. >> juliet: thank you for joining us and waking up at the bright and early hour of 6:10 a.m. >> clayton: thanks, curtis. let's check with maria molina, another snowstorm in ohio and east and some places in southern new england got up to a foot of snow. >> dave: and drivers be warned, five people hurt in new hampshire after a 20-car pileup and some airports saw slays and a plane taken off in sheing slid off the runway, and stuck in a snow bank, 6 6 on board. no one was hurt. >> juliet: for more on the conditions as mr. clayton morris said, maria molina. i was saddened not to see a white new years, pre-new years. >> we didn't see it accumulate in new york, in manhattan. outside, hoboken saw snow on the cars, but not on the ground or the streets, but place ins connecticut and massachusetts actually saw close to a foot of snow. i even sawmill ford, massachusetts over a foot of snow and some people did get lucky and needed snow across portions of we haven't is that much snow so far this wi
and kicked the can down the road and only talking about taxes which will do nothing to decrease the deficit. >> juliet: thank you for joining us and waking up at the bright and early hour of 6:10 a.m. >> clayton: thanks, curtis. let's check with maria molina, another snowstorm in ohio and east and some places in southern new england got up to a foot of snow. >> dave: and drivers be warned, five people hurt in new hampshire after a 20-car pileup and some airports saw slays and...
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Dec 27, 2012
12/12
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but $90 million isn't that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says, you got to start somewhere. especially when washington won't. the partisan bickering has bothered him since -- >> 1992. >> reporter: that's when garcia first wrote his congressman, suggesting a formula to eliminate the death. the depression era kid and army veteran says he's giving back to a country that's given him so much. a sense that's infectious. his daughter is now collecting cabs at work. his grandson drives garcia to friends' houses, just to collect more cans. garcia knows that his monthly money orders won't avert the fiscal cliff, but his priest says that's not the message garcia's sending to congress. >> in order to really solve the $16 trillion national debt, you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end, and it might as well be here. so if you want to be, like his granddaughter says, be lik
but $90 million isn't that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says, you got to start somewhere. especially when washington won't. the partisan bickering has bothered him since -- >> 1992. >> reporter: that's when garcia first wrote his congressman, suggesting a formula to eliminate the death. the depression era kid and army veteran says he's giving back...